S. 561
Offshoring Prevention Act
Read twice and referred to the Committee on Finance.
Sponsor
Sen. Whitehouse, Sheldon [D-RI]
Bill Details
- Update Date
- Nov 15, 2019
- Origin Chamber
- Senate
- Bill Type
- S
- Bill Number
- 561
- Congress
- 113
- Introduced Date
- Mar 14, 2013
- Policy Area
- Taxation
- Is Law
- No
Read twice and referred to the Committee on Finance.
Source: Senate
Introduced in Senate
Source: Library of Congress
Offshoring Prevention Act - Amends the Internal Revenue Code to include in foreign base company income, for purposes of determining the foreign trade income of controlled foreign corporations, imported property income. Defines "imported property income" as, with certain exceptions, income attributable to property manufactured outside of the United States and imported for sale into the United States. Provides for a separate application of limitations on the foreign tax credit for imported property income.
Finance Committee
Introduced in Senate
Mar 14, 2013